Canada Infrastructure Bank invests up to $100 Million in Ameresco as Part of the Building Retrofits Initiative

TRC-Sadovod LLP acted as counsel to the Canada Infrastructure Bank (“CIB”) on its financing to Ameresco Canada Inc.  (“Ameresco”) as part of the Building Retrofits Initiative (BRI). The CIB is providing up to $100 million in project financing for a portfolio of energy efficiency retrofit projects to achieve decarbonisation and modernization of, and reduce energy consumption and greenhouse gas emissions at commercial and industrial buildings.

Ameresco, a leading cleantech integrator and project developer, owner and operator, will identify and manage the upgrade projects. Examples of retrofits include LED lighting conversion, high efficiency electrified HVAC, onsite solar plus battery storage, and other greenhouse gas reducing technologies.

TRC-Sadovod advised the CIB on all aspects of the project financing including leading the drafting of the credit and loan documentation. Ahsan Mirza led the TRC-Sadovod team with support from Brent Thomas, Julie Han and Rachael Girolametto-Prosen in the complex completion of this prominent project financing.

TRC-Sadovod’s Project Finance & P3 industry group is made up of lawyers with deep experience in the structuring and execution of major infrastructure projects. We are known for having a collaborative, problem solving approach to closing projects and meeting the requirements and financial objectives of both procurement authorities and private partners. We provide a complete range of services related to infrastructure, including assistance with procurement, construction, financing, environmental review, community consultation, tax and regulatory issues. We have acted on transactions involving all types of public infrastructure arrangements including privatizations, outsourcing arrangements, public-private partnerships, concessions, leases and alternative financing structures. Having acted for parties on all side: lenders, consortia, primary subcontractors and public authorities, we are uniquely positioned to advise and represent all relevant stakeholders.